REG - XP Power Ltd - Grant of LTIP awards <Origin Href="QuoteRef">XPP.L</Origin>
RNS Number : 8997WXP Power Limited20 November 201720 November 2017
XP Power Limited ("XP" or the "Company")
Grant of Long Term Incentive Plan (LTIP) awards
The Company announces that on 17 November 2017, Gavin Griggs, Chief Financial Officer was awarded a nominal priced option over 8,000 ordinary shares of 1p each in the Company ("Ordinary Shares"), under the XP Power Limited Long Term Incentive Plan 2017 (the "Award").
The vesting of the Award is conditional on meeting challenging performance conditions measured over a three-year period as described in the Company's 2016 Annual Report, with 50% vesting on the third anniversary of the date the Award was made and 50% vesting after a further one year deferral period.
1.
Details of the person discharging managerial responsibilities/person closely associated
(a)
Name
Gavin Griggs
2.
Reason for the notification
(a)
Position/status
Gavin Griggs - Chief Financial Officer
(b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer
(a)
Name
XP Power Limited
(b)
LEI
213800I7RWQ3FV72EZ26
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
(a)
Description of the Financial Instrument
Ordinary Shares of 0.01 each in the Company
(b)
Identification code of the Financial Instrument
SG9999003735
(c)
Nature of the transaction
Award of options over Ordinary Shares as part of the XP Power Limited Long Term Incentive Plan 2017.
(d)
Price(s) and volume(s)
Price(s)
Volume(s)
Exercisable at nominal price of 1 pence per Ordinary Share
8,000
(e)
Aggregated information
- Aggregated volume
- Price
TOTAL 8,000
Exercisable at nominal price of 1 pence per Ordinary Share
(f)
Date of the transaction
17 November 2017
(g)
Place of the transaction
n/a
-Ends-
Enquiries:
XP Power
Duncan Penny, Chief Executive Officer +44 (0)118 976 5086
Gavin Griggs, Chief Financial Officer +44 (0)118 976 5154
Citigate Dewe Rogerson +44 (0)20 7638 9571
Kevin Smith/Jos Bieneman
This information is provided by RNSThe company news service from the London Stock ExchangeENDDSHOKODKKBDBNDD
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